[Context: On August 22, Sierra Resources announced a $100m equity commitment from Post Oak Energy Capital for Eagle Ford efforts. GSO Capital and management will also invest. Further details and related links are below.]
Post Oak Energy Capital Makes $100 Million Equity Commitment to Sierra EF, LP
Post Oak Energy Capital, LP (“Post Oak”), through investment partnerships it manages, today announced that it committed $100 million of equity to Sierra EF, LP (the “Company”), a subsidiary of Sierra Resources, LLC (“Sierra”). Affiliates of GSO Capital Partners LP (“GSO”), and the Sierra management team (“Management”) also have contributed capital to the Company and will continue to invest alongside Post Oak.
Sierra is a Houston-based exploration and production company with a focus on the acquisition and development of oil and gas properties in South Texas. The Sierra team is led by industry veterans John Eads, President; John C. Eads, CFO; John T. Campbell, COO; Robert S. Fabris, EVP Land & Business Development; and John H. Kelly, EVP Engineering. Management has extensive experience in all phases of the oil and gas business and has a long and successful track record of acquiring and developing oil and gas assets.
Post Oak, which was established in 2006, is an energy-focused private investor based in Houston, Texas. Its management team has executive management experience and a broad network in the energy business as well as significant expertise in equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oilfield service and related infrastructure. Post Oak works in close partnership with operating management teams to build businesses, accelerate growth and enhance shareholder value.